Remember the “Bitcoin Family” and how they’re one of the world’s biggest advocates of Bitcoin and cryptocurrencies? Earlier this year, we reported that the family of five, led by patriarch Didi Taihuttu, decided to move to Portugal because of its zero-tax policy on Bitcoin. In 2017, the family of five liquidated all that they owned, including a 2,500-square-foot house, and purchased Bitcoin which was trading at $900. Today, the family keeps all of their crypto assets in secret vaults on four different continents. But with the recent continuous fluctuations in Bitcoin’s value, the family has incurred some losses.
So far this year, the Bitcoin Family says they’ve lost at least $1 million on their investment in Bitcoin since the flagship cryptocurrency hit its all-time high of $69,000 in November last year. Irrespective of the latest occurrences, the family’s patriarch still has huge faith in Bitcoin. “I’m buying bitcoin daily. For me, the lesson I learned the last two cycles is, when the whole world is freaking out and when everybody is thinking that bitcoin will crash, I am slowly zooming out, and I’m buying bitcoin,” he said.
Didi Taihuttu also revealed that he sold some Bitcoin at peak value and/or just the right moment. “That’s the Bitcoin life,” he said. About 15 percent of the family’s total Bitcoin holdings were sold when flagship cryptocurrency Bitcoin fell to $55,000 in November 2021. “$55,000 for me was the confirmation that we would go lower,” he added.
The family’s patriarch is big on studying the crypto market and is also an ardent follower of the Mayer Multiple. Didi Taihuttu is of the opinion that Bitcoin will hit rock bottom at between $15,000 to $20,000 (very close to the prediction of University of Sussex’s finance Professor Alexander Carol, who predicted Bitcoin falling to $10,000 last year) and will eventually rise up to at least $140,000 by 2025. He also emphasized that this is the right time to buy, in a way reminding us of El Salvador’s President Nayib Bukele’s call for people to buy the dip. “Slowly, people will understand that being in Bitcoin and HODLing is more profitable than always trying to catch that altcoin that will go times thousands,” Didi Taihuttu said.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
